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Following Bolt, Instagram is back with another new mobile app. It’s called Hyperlapse and promises iPhone owners an easy way to record tracking shots and stunning time-lapse videos.

These two shooting techniques are devilishly difficult to create with a smartphone. Most filmmakers use a professional camera rig to produce these effects, but today Instagram hopes to offer similar results to iOS users.

Hyperlapse includes built-in stabilization so that shots maintain a smooth, balanced look as you move around. So if you’re running towards some friends on the beach, or want to record an amazing goal by your favorite football star, this app should deliver some usable footage without any problems.

Just like Instagram, the controls for Hyperlapse are dead simple. The app launches straight into the camera and you tap once to begin recording. When you’re done, tap once more. The only complicating factor is the playback speed, which can be toggled between 1x and 12x for novel time-lapse effects. Hitting the green check mark will then save it to your device’s Camera Roll.

“From documenting your whole commute in seconds or the preparation of your dinner from start to finish to capturing an entire sunset as it unfolds, we’re thrilled about the creative possibilities Hyperlapse unlocks,” a blog post reads.

To try the app for yourself, just hit the download link below.

(If you’re an Android user, tough luck. Wired reports that while the Hyperlapse team wants to develop an Android version, it would require alterations to the platform’s camera and gyroscope APIs. As a result, there’s no word on when we might see a Hyperlapse app in the Google Play store.)

Nick Summers is a technology journalist for The Next Web. He writes on all sorts of topics, although he has a passion for gadgets, apps and video games in particular. You can reach him on Twitter, circle him on Google+ and connect with him on LinkedIn.